The GoldStacks Blog

Donations

2008-08-06T06:41:00.001-07:00

If you find yourself setting up that home office and in the process make donations of that stuff that's taking up space, here are some summertime tips from the IRS.

Charitable Contributions

Did you make a cash contribution to your favorite charity? Have you recently spent a weekend cleaning stuff out of your garage or basement that you then donated to a local charity?

Charitable contributions can be tax deductible, but you must have the proper records to support your deduction. Due to the Pension Protection Act of 2006 the rules on recordkeeping for charitable contributions became a little more strict beginning in January 2007.

To deduct a charitable cash donation, regardless of the amount, you must have a bank record or a written communication from the charity showing the name of the charity and the date and amount of the contribution. Acceptable bank records would include canceled checks or bank or credit union statements containing the name of the charity, the date and the amount of the contribution.

Under the previous rules, records such as personal bank registers, diaries or notes made around the time of the donation could often be used as evidence of cash donations. Personal records like this are no longer sufficient.

Here are some additional tips to help you deduct your charitable contributions on your 2008 federal tax return.

Charitable contributions are deductible only if you itemize deductions using Form 1040.
Contributions must be made to a qualified organization.
Used clothing and household items such as furniture, linens and appliances must be in good used condition.
Vehicle donations are subject to special rules.
To deduct charitable contributions of items valued at $250 or more you must have a written acknowledgment from the qualified organization.
To deduct charitable contributions of items valued at $500 or more you must complete a Form 8283, Noncash Charitable Contributions, and attached the form to your return.

More information is available on the IRS Web site at IRS.gov. A good resource is IRS Publication 526, Charitable Contributions, found on the web site or by calling 800-TAX-FORM (800-829-3676).

Remember that for the genuine IRS Web site be sure to use .gov. Don't be confused by internet sites that end in .com, .net, .org or other designations instead of .gov. The address of the official IRS governmental Web site is www.irs.gov.

--
Yukon Cornelius
CFO of www.GoldStacks.com

Disclaimer: To ensure compliance with requirements imposed by the Internal Revenue Service, we inform you that any tax advice contained in this communication (including any attachments) was not intended or written to be used, and cannot be used, for the purpose of (i) avoiding any penalties that may be imposed, or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein.

Networking

2008-07-21T08:48:00.001-07:00

Sometimes, it's not what you know but who you know. So what if you don't know anyone. Try a networking group. These organizations can be things like your local chamber of commerce or rotary. They can be more industry focused, like a construction association. Personally, I belong to Business Network International (BNI). You can find information and your local chapter at www.bni.com It is a great way to get business and an even better way to know people.

The Living Dead

2008-07-12T08:51:00.001-07:00

I was ready to start working on my post for Friday's blog when I let my dog Bella outside. The neighbors behind us were outside and they hollered over that there was a strange dog they found wandering around the neighborhood. As I looked over to answer them here comes this medium sized brown Shar Pei mix over to see me. What a friendly dog she was except she didn't seem to want to be friends with Bella. So I put Bella inside and we sat on our back porch trying to find this dog's owner. My neighbor drove around looking for someone that was driving around looking for the dog but with no luck. The next thing I know it is midnight. Our neighbors took the dog back to their house for the night and I went to bed.

I was thinking about the dog being scared and nervous because she couldn't find her way and it made me think about how most of us walk around like that poor dog in life, lost. We never find one person let alone three or four that can help us find our way so we walk around like the living dead. If you are thinking "what in the hell is he talking about", take a moment and think about your life. Are you living your dream? Is your job or career something you dreamt about? I bet in most cases you do dream about your job or career… but they are called nightmares and directed by Wes Craven. If you are living your dream then stop reading I'm not talking about you. But if you aren't then keep reading.

Okay you say, I'm not living my dream but I'm not lost, I make it home everyday. (If you are a guy like me then you are never lost and need directions.) In high school and college we have counselors that are supposed to help us decide on a career path and guide us in the right direction. Well I don't know about you but mine didn't help guide me very well. There are a lot of people who will have different views of their school counselors and that's great, you are the lucky ones. If you didn't have very good guidance about a career in school I bet you still don't.

Finding a person or a group of people to help mentor you in life is very important. Maybe it is a senior manager in your firm that you respect and admire or a very successful friend but it is important to find someone that can help you find your way. Another avenue that you can use is a personal coach. A down side to having a personal coach is they cost money but I have talked to a lot of people who say it was money well spent. That's a personal decision you have to make yourself. Just being involved with like minded people can help you find your true calling and passion. If you have a mentor or coach then you can sit down and talk on a regular basis about what steps you need to take to reach your dreams and goals.

I hope that you are not lost in your career or job and that you have a mentor but if you are lost and realize there is something else you would rather do just remember that it is never to late for you to go after your dreams. Find someone that can mentor you and start walking among the living. If you have no clue where to start looking for a mentor just shoot me an email and I will be glad to help you anyway I can.

Wishing you the Best,
Golden Hound

Free Advertising?

2008-07-09T14:32:00.001-07:00

Sure, you can get a FREE ad on our site! I launched a new program the other day designed to encourage participation in our "1,000 Ways to Make $1,000" database. Anyone who submits 10 original ideas to the database gets a free ad.

Now, we're not exactly the most visited destination on the Internet just yet, but it's also pretty cool to have a free ad, even if it is just a small square that appears on almost every one of our pages. Besides that, getting involved now in GoldStacks is an opportunity to take a leadership position here -- become known as an authority in the area of money-making idea generation. You could tell people, "Hey, go to GoldStacks and read any of the ideas I've contributed if you're interested in making some extra cash."

Certain people and/or groups of people could really take the ball and run with it on our site. For example, young entrepreneurs and/or business students (e.g., college business majors or high school FBLA members), or older financial professionals could really contribute and take a leadership position. So, if that describes you, visit GoldStacks.com and think about contributing ideas to our database. They'll then become free to the world (and you'll get the satisfaction of knowing that others could be profiting from the ideas you've shared).

-Ragnar

GoldStacks.com

Waiting for your stimulus check??

2008-07-08T06:09:00.001-07:00

For all of you waiting for your stimulus payment to help your business get off the ground. . .

The Treasury Department sent out 10.025 million stimulus payments, totaling $7.775 billion, during the week of June 30. This brings the number of payments to 104.875 million, totaling $86.079 billion through July 3. For single filers, the minimum stimulus payment is generally $300 and the maximum payment is $600. For joint filers, the minimum stimulus payment is generally $600 and the maximum payment is $1,200. An additional $300 payment is made for each qualifying child.

Unfortunately, you may be one of the unlucky few who do not qualify. To find out, go to www.irs.gov and click on the "Rebate - it's not too late" link.

Say Thanks

2008-07-07T06:34:00.001-07:00

Yesterday, sunburnt and on the way back from Erie, we stopped at the first rest stop. A guy pulls in, music blaring, leaves his car on and runs in to reload. He looked like the military type, but only because of his haircut. We saw him again at the next rest stop (which was out of order). At the third rest stop, I realized from the insignia emblazened on his rear window why he had the balls to leave his car running. He was a United States Marine.

Seeing him at three rest stops in a row, I figured someone was trying to tell me something. I went over and thanked him for his service, introduced him to my girls and made small talk. I told them that he was the reason we could go to Erie and ride bikes on the 4th of July. He was on his way back to base in S. Carolina. He'd been visiting family for the weekend in Buffalo. I felt bad that I didn't have anything to give him, but he seemed like the type who would have refused it anyway.

Thanks again Bosco

--
Yukon Cornelius
CFO of www.GoldStacks.com

Disclaimer: To ensure compliance with requirements imposed by the Internal Revenue Service, we inform you that any tax advice contained in this communication (including any attachments) was not intended or written to be used, and cannot be used, for the purpose of (i) avoiding any penalties that may be imposed, or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein.

Pick Me up for Tough Days

2008-07-05T20:41:00.001-07:00

When you are having tough days keep this poem by Ann Davies handy.

Learning isn't easy…frustration tends to set in quickly. You hurt. You feel defeated. You want to give up- to quit. You want to walk away and pretend it doesn't matter. But you won't because you're not a loser- you're a fighter…

We all have to lose sometimes before we can win. We have to cry sometimes before we can smile. We have to hurt before we can be strong. But if you keep on working and believing, you'll have victory in the end.

By Ann Davies

Happy Fourth of July!

2008-07-04T05:16:00.001-07:00

I want to wish everyone a Happy Fourth of July! I hope everyone takes the time today to reflect on what today means and give thanks to all those who sacrificed in the fight for the Independence of this Great Country. Remember what Nathan Hale said "I regret that I have but one life to lose for my country." By the way, he was hanged by the British as a spy. All of the founding fathers suffered great hardships during the Revolutionary War. Read Rush Limbaugh's The Americans who Risked Everything, (click on the link below to read it.)

http://www.rushlimbaugh.com/home/daily/site_070308/content/the_americans_who_risked_everything___rush_h__limbaugh__jr_.guest.html.guest.html

That letter will give you an idea of what it meant to the signers of the Declaration of Independence for us to become free of British rule.

That spirit has carried on since that day and we have had men and women make the ultimate sacrifice to keep our Country free and we still have our brave men and women fighting to keep us safe and free at this very moment. Make sure that you honor our military heroes past and present. If you see one of our service men or women over this holiday weekend make sure that you thank them for everything they do. Without our militaries sacrifices over the years we would not enjoy all that we have in our lives.

I would like to end me post today with a prayer for Independence Day from the book "Prayers for our Country"

"Today is the birthday of my country, God. I give thanks and praise for its noble beginnings, its unwavering founders, and the bravery of all who have fought to sustain it. May the red, white, and blue banner of the free continue to wave high above our land. I ask you, Lord, to keep it free from hatred and protect it from harm. Amen."

Have a Great Day!

Golden Hound

A Note for Old Dogs

2008-07-02T08:42:00.001-07:00

Well, I've talked with numerous people from all around the country about GoldStacks. Some of them have been friendly strangers, others close friends for many years. "What do you think of the site?" I asked them all.

Here's what I've discovered: As for the idea and the content, it's good. Some have even said "awesome!" That's the good news. Others have offered constructive criticism, mainly pertaining to the design. When you hear it from one person, that's an opinion. When you hear it from a few, it starts to be something you have to take seriously.

Now, there's nothing "wrong" per se with GoldStacks.com. It's a perfectly functional site, with a lot of great ideas and interaction. It's mainly the look that's giving us the perception of a non Web-2.0-type site. To distill a number of comments from people into a single opinion: Our site kind of smacks of late-1990s web aesthetics. Well, that makes a lot of sense to me, as I use to be a professional web master in the late 1990s. We generally didn't use things like Cascading Style Sheets (CSS), and there was no ASP.NET.

So, we need to start making some changes around here vis-a-vis our "packaging." I've made this my personal priority going forward -- to start embracing some of the newer methods -- things like getting rid of HTML tables in favor of CSS web layouts. It represents a vast improvement, once you think about it from a web development standpoint, anyway. And, hey, it's always good for the ol' resume. As a bonus, I can learn this on company time because my day job's web site is my responsibility and it also should be updated.

So, look out for some of these changes here on GoldStacks, too. With hope, we'll soon start looking more cutting edge than we do now. If you want to draw a lesson from this, which we may as well do since this is supposed to be a motivational blog, you could do worse than to take home the message that it's never too late to teach an old dog some new tricks. (Uh, not that I'm an old dog.)

Take a look, btw, at the "Late Bloomer" page on Wikipedia if you're feeling like an old dog who's past his or her prime. You'll find some of these gems:

Danny Aiello did not begin acting until he was 40.

Rodney Dangerfield was an actor/comedian who didn't really start until he was 42.

Grandma Moses didn't start painting unitl her 70s (because of arthritis).

Colonel Sanders didn't franchise until his 60s.

Swedish marksman Oscar Swahn won two Olympic gold medals -- at ages 60 and 72!

Raymond Chandler published his first short story at 45.

Harriet Doerr published her first novel at age 74.

Famous artist and ex-slave Bill Traylor didn't start drawing until age 83!

So, it's never too late to learn, or to achieve!

Have the vision

2008-07-01T06:45:00.001-07:00

"Some men see things as they are and say, 'Why?' I dream things that never were and say, 'Why not?"

- Robert Kennedy

Some people want to start a business and see high prices and difficulty breaking into their chosen market. They see what is going on in the world right now and make decisions based on it. Others study their history, recognize a familiar situation from the past and know what the results will be. The important thing is to have the vision to see beyond what is right in front of you.

SIGHT is what you see with your eyes.

VISION is what you see with your mind.

- Rich Dad

It's out there

2008-06-30T06:35:00.001-07:00

I was reading Robert Kiyosaki's Retire Young, Retire Rich. I came to the realization that it is out there. Whatever it is you are striving for, if you work hard enough, or better yet, smart enough, you can attain your dreams. Then, when you've perfected the system, you can write books like Mr. Kiyosaki and add another stream of income to your empire.

Sometimes, when you are faced with decisions and you are unsure if you are choosing the right path, you just need to take the advice of a rather popular sneaker company and "Just do it".

--
Yukon Cornelius
CFO of www.GoldStacks.com

Disclaimer: To ensure compliance with requirements imposed by the Internal Revenue Service, we inform you that any tax advice contained in this communication (including any attachments) was not intended or written to be used, and cannot be used, for the purpose of (i) avoiding any penalties that may be imposed, or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein.

People can Change

2008-06-28T20:14:00.001-07:00

"I've never met a person, I don't care what his condition, in whom I could not see possibilities. I don't care how much a man may consider himself a failure, I believe in him, for he can change the thing that is wrong in his life anytime he is prepared and ready to do it. Whenever he develops the desire, he can take away from his life the thing that is defeating it. The capacity for reformation and change lies within." – Preston Bradley

I believe that quote to be 100% true. I don't care where you come from, what kind of life you have had; if you want to make a positive change in your life and become successful you can do it. I believe that if one person has accomplished something then anybody can do it. All it takes is for you to believe that it can be done and go do it. There are so many examples of individuals that had terrible childhoods but inside they had a desire to succeed. That desire leads them to make the necessary changes in their lives to become the person they dreamed of becoming.

Sound advice from a Millionaire Mentor

2008-06-27T21:37:00.001-07:00

"Leaders create the vision, set the example, and empower others to help make it happen."

That quote is from Greg S. Reid's book The Millionaire Mentor. I think that is great advice for all entrepreneurs. I think there is a tendency to take on more than we need to do when it is our business. It's our baby so no one can do the things we can do. At least that is what our thoughts are. Now I know when we first start out it is probably a one man operation but as our businesses grow and we add employees we still do the bulk of the work.

If we follow the quote and convey the vision for our business, work hard and delegate important task to the employees, they will begin to gain a sense of ownership. If you can do that with the first employee you hire and then the next and the next you will be creating a culture and mindset just like yours. Your business will grow and prosper when that happens.

So take the advice of a Millionaire Mentor and watch your business grow.

Best of Luck,

Golden Hound

Moving day

2008-06-25T07:28:00.001-07:00

There is nothing quite like moving day. . . or the day after moving day. Even though it's just your same junk in a different place, you can feel the potential for better days. You get the same feeling when you buy an new piece of equipment. Say it's that spiffy printer or new laptop. You can now "write it off as a business expense". Though this is true in most cases, did you go a little overboard and spend money that you really didn't have? I know that's the American way and all, but why dig yourself in a hole before you even get started.

There are many places where you can buy "experienced" office equipment on the relatively cheap.

Take advantage of any discounts you can get (AAA, memberships in professional societies). Don't be afraid to ask!!

Sometimes if you tell them you are a new business owner, they have specials specifically for you.

Blessing or curse

2008-06-24T07:32:00.000-07:00

Ever have one of those days where nothing goes according to plan. You have to wait for everything from everyone. You make phone calls and get voicemail.

Thats the nice thing about working for yourself. It's all up to you. Granted, that could be a blessing or a curse.

Goldstacks can help you choose a job on the side and give you valuable information so you don't waste time trying to smooth things out on your own.

Go to the site and check it out.

Fear

2008-06-21T08:13:00.001-07:00

James F. Byrnes said "Too many people are thinking of security instead of opportunity. They are more afraid of life than death."

This Country was founded by men that wanted the opportunity to live their lives as free men and they took great risk to do that. Today that spirit lives on in all of us but only a few overcome the fear of failure and go after what they want without hesitation. I applaud all of you entrepreneurs because you are the few.

I know that it's not an easy decision to quit a job to be in business for yourself especially when you are just starting out. Millions of people have great opportunities and ideas to step out on their own but don't because they fear leaving the comfort and security of their current situation. What these people don't realize is there is no security working for someone else. At any time you can get handed a pink slip. To overcome your fears you need to step out of your comfort zone.

Willy Jolly says "You will never discover your genius or brilliance if you only do what is comfortable."

Goldstacks is a place where you can come get answers to questions and encouragement from other business owners on your quest to start a new business or running a current business.

I hope that you can conquer your fears and discover the brilliance and genius that is hiding in you.

Best of Luck,
Golden Hound

Tiger Woods

2008-06-20T03:36:00.001-07:00

Today I want to comment on Tiger Woods US Open victory Monday. We come to find out Wednesday that he played on a torn knee ligament and two stress fractures in his left leg. The guts and determination that Tiger showed during the tournament proves with out a shadow of a doubt that he is the best ever. He's not the best ever just because he won a tournament while playing hurt, hell athletes from all sports play hurt. What sets him apart is his will to win. He was told by his doctor not to play and to rest for six weeks. He told his doctor that he was going to play and win the US Open.

From the moment he picked up a club he was determined to be the best golfer ever and each day he went out and willed himself to practice like he was the best. He would hit more balls than anyone else. He also used weight training to make him stronger and more durable during the long season. The hard work paid off and he became the number one player in the world.

What do you think Tiger did then? He got with his coach and changed his swing. He wasn't happy with it so he went back to the drawing board. Here is a lesson for you young people out there. No matter what anyone tells you about your performance you can always get better and improve. That is why Tiger Woods is the best golfer ever; he understands that simple formula of working hard and always working to improve himself.
Be like Tiger and always try to improve yourself. Remember that you need to become a better person on the inside. Self improvement is a life long process and you need to make it a daily part of your life. Your input determines your output. The greatest investment you can make is in YOU!

Best of Luck,
Golden Hound

Driving Traffic to GoldStacks

2008-06-18T20:00:00.001-07:00

Whoa, I forgot to blog today! Well, there's still an hour or so left of Wednesday, so maybe I can manage a short post.

Here in the early days of GoldStacks, our main challenge is in driving traffic to our web site. If you've been here from the beginning, you may have noticed at least one major change in our business model. Initially, we envisioned a web site for which we would charge users for access to premium content. It sounded good on paper but, for numerous reasons, we decided we'd rather promote a completely free service. Sure, we want to make money ourselves. But, we felt it was more important to build a solid user base first -- and what better way than offering something utterly cool for free?!

The "something utterly cool" is, of course, our "1,000 Ways to Make $1,000" database, our Entrepreneur's forum, our bulletin boards, and other networking functions. But, the "Field of Dreams" ("if you build it, they will come") approach doesn't work on the Internet. You can offer the neatest thing in the world, but if the word isn't spread, the site just sits there.

So, even though it's a free site, the GoldStacks owners still have quite a job to do in spreading the word. One thing we remain sure of -- once the GoldStacks ball gets rolling, it'll be an immensely valuable destination for thousands of entrepreneurs! We do have a plan to stat spreading the word, but we're also very open to others' ideas. So, if you've got an idea on how we might spread the word about GoldStacks, please drop us a line at 100GoldCoins@Gmail.com. We'd love to hear your thoughts.

And, of course, YOU can help, too. Tell others about GoldStacks, link to GoldStacks.com from your web sites and blogs, and of course USE the site -- help us populate that 1,000 Ways database, and take advantage of the Entrepreneurs' Forum.

Thanks a Million!

-Ragnar

Watch your bottom line

2008-06-17T06:40:00.001-07:00

So many people I know have a business on the side. When I ask them if they're making any money, the answer is always a resounding "YES"! When I delve a bit deeper and start asking about their expenses and profit, the answers get more and more vague.

Truth is. . many small entrepreneurs have their eye on the money coming in the door and not much else. If you are selling a product out of your house and making the deliveries yourself, your cost of delivery is ever-increasing. You have the most expensive business cards and the newest printer and a laptop and a phone that you can browse the internet with. The best part is. . . you can write it off on your business.

If business is great, but you have to take out a second mortgage on your house to cover your monthly expenses, how great is business?

I'm a CPA so I will encourage you to reduce your taxable income to as little as legally possible, but I also want to see you making money. I need paid too, you know.

Keeping track of your income and expenses does not have to be complicated. It can be done with a notebook. Pick a page and write down everytime someone gives you money for a product or service. Pick another page and write down every time you pay for something for the business. For the most part, a simple calculation of the first page's total minus the second page's total gives you your net income.

Try and pay everything with a check or a credit card that you have designated for the business. This is an easy way to track expenses without having to buy that notebook I just told you about. Some credit cards will even break down your expenses by category on an annual summary that you can use to prepare your tax returns.

We are all here to make money. All I'm saying is, make sure you actually are (making money).

--
Yukon Cornelius
CFO of www.GoldStacks.com

Disclaimer: To ensure compliance with requirements imposed by the Internal Revenue Service, we inform you that any tax advice contained in this communication (including any attachments) was not intended or written to be used, and cannot be used, for the purpose of (i) avoiding any penalties that may be imposed, or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein.

Do what you like

2008-06-16T06:07:00.001-07:00

As I knelt over the disassembled commode (toilet for you non-western Pennsylvanians) on - you guessed it - Fathers' Day, I knew it was something I didn't want to be doing. I was sun burnt and tired from going to the zoo and 11 p.m. was quickly approaching.

Don't choose a vocation (or way to make $1,000) unless you will like to do it. It doesn't matter what they pay me, I just couldn't play with toilets for a living (as I sit here looking at my still-black hands).

Do something you will enjoy doing.

Cost of replacing a toilet $100

Cost of asking a few questions and fixing it yourself $6.35.

Knowing that unless the porcelain breaks, the parts do exist. . . priceless!

--
Yukon Cornelius
CFO of www.GoldStacks.com

Disclaimer: To ensure compliance with requirements imposed by the Internal Revenue Service, we inform you that any tax advice contained in this communication (including any attachments) was not intended or written to be used, and cannot be used, for the purpose of (i) avoiding any penalties that may be imposed, or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein.

10 Questions to ask yourself

2008-06-14T08:53:00.001-07:00

"Only those that attempt the ridiculous achieve the spectacular" – Willy Jolly

Willy Jolly is a great speaker and author and I heard him say that he uses the following ten questions to help him achieve his goals.

1) Decide what you want
2) Write it down and be specific, put a number of how much you want to earn next to it.
3) Read your goals three times a day.
4) Set a date of accomplishment for what you want.
5) Think of it often, be creative with the ways you will achieve it.
6) Dream and imagine what it will look like.
7) Develop a plan of action
8) Do three things each day that will move you one step closer to achieving your goals.
9) Stay positive. Read and or listen to something positive in the first 20 minutes of each day.
10) Act as though you have achieved it. Fake it til you make it!

Another key is having belief and faith in yourself and the goal you are pursuing. If you don't believe it or have faith in it then following these ten questions will not get you where you want to be.

Best of Luck,
Golden Hound

Promote Your Internet Business Free

2008-06-13T04:10:00.001-07:00

Today I am going to list for you the easiest ways to promote your internet business for free. Which if you are just starting out and do not have a lot of funding this is definitely the way to go. I am not listing these in any particular order they are being listed as I think of them.

Social networks are such a huge part of the internet today (just refer to Ragnar's post Wednesday) everyone seems to have a profile set up on MySpace or Facebook. Those are the two biggest social networks around. Facebook only has 70,000,000 plus members and MySpace only has 240,000,000 plus members. Just by putting a profile on these sites and connecting with like minded people you can reach thousands daily. They are easy to join, just go to www.myspace.com or www.facebook.com

Blogs just like the one you are reading now. You can start a blog & connect it to your site. Here are a couple of sites where you can set up your blog, they are www.blogger.com and www.wordpress.com . A key to blogging is making sure you give your readers relevant content and post often.

Media sharing sites like www.youtube.com allows you to upload videos and share them with the world.

Here is one last idea for you. Join groups that pertain to your business, both MySpace and Facebook have groups and forums you can join, there is also Yahoo groups. Join these groups and read all of the different post and get a feel for what the topics are and then join in and post your own question or reply to someone else's post.

These will get your name and website out in view for the world to see and the best thing is it is free. Now don't think by setting up a profile on one of the networking sites will make you rich because it won't. It also will not happen overnight. This is something that is going to take time. In the end your efforts will pay off you just have to stick with it.

Have a Great Day!
Golden Hound

Social Networking

2008-06-11T15:56:00.000-07:00

So, I'm sitting here at my local public library this evening. My daughter wanted to take a swim at the nearby pool, and it was too late to simply drop her off. I remembered the free wireless at this branch, and here I am.

I'm not usually one to hang out at the library. Not that I don't like libraries. In fact, I LOVE them. But, there aren't many "great" ones around here -- unless you travel to downtown Pittsburgh to the main branch of the Carnegie Library. Now THAT is a truly great place to hang out.

Onto my point... There are many casual Internet surfers here surrounding me. Without being too overly nosy, I took a quick look at what they were all doing. Any guesses?

MySpace. Each and every one of them are surfing MySpace. That's just how popular social networking is these days. So, it should be no surprise that niche networks are popping up all over the "Web 2.0" landscape. Networks like GoldStacks.

Our mission is of course to create such a destination -- a place for likeminded, ambitious people to log on and think about improving their financial situation. We envision a network of thousands, all interacting, creating a whole that's worth much, much more than the sum of its parts. That's the vision, anyway.

What we need now is traffic! The other GoldStacks owners and I are working on that problem. In our minds, it could be a GREAT Internet resource -- once it's rolling. But getting that momentum is a challenge. It's also a great learning experience for the three of us. Seems there are a million valid ways to go about driving traffic to a web site. We're pursuing roughly 500,000 of them.

Once we crack the secret, we'll be sure to post it here for everyone. Or, maybe we'll post it in our own database of 1,000 Ways to Make $1,000 -- because, I'm sure if you're a person who can drive traffic to a web site, that's worth at LEAST $1,000. (Realistically? Probably 1000x that figure.)

Mileage

2008-06-10T05:31:00.001-07:00

Whether you think you can or you think you can't, you're right.

- Henry Ford

Speaking of Fords, mileage is probably the most overlooked expense to write off on your business.

Some tips -

Make sure you keep a contemporaneous log (the IRS likes that!). This log should include the date, number of miles and business purpose for the trip.
Give each trip you make a business purpose. If you have to run to your local Bulls-eye or StuffMart, make sure you pick up something for the business too. If you have to ship something, write off the mileage to and from the post office
Keep up to date on the standard mileage rate. Periodically, the IRS changes the rate (although we haven't seen one since January 1, 2008 - that was about 84 cents a gallon ago). You can keep on top of this rate by visiting the IRS website at www.irs.gov . Type standard mileage rate in the search bar located at the upper right.

As always, please consult with your tax advisor before making any tax decisions.

Disclaimer: To ensure compliance with requirements imposed by the Internal Revenue Service, we inform you that any tax advice contained in this communication (including any attachments) was not intended or written to be used, and cannot be used, for the purpose of (i) avoiding any penalties that may be imposed, or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein.

--
Yukon Cornelius
CFO of www.GoldStacks.com

Home Office tip

2008-06-09T06:34:00.001-07:00

Many entrepreneurs start out working from home on their $1,000 idea (while commuting to and from work at their real job). Then, one day at the family barbeque, your brother-in-law tells you that you can write off your whole house on your business. Sounds great, right!?

The following are a few things to keep in mind when claiming a home office deduction on your personal income tax return.

-The space must be used exclusively and on a regular basis for the business purpose. It can't be the kitchen table or the family room.
You can write off expenses such as real estate taxes, homeowner's insurance, utility bills etc.
You can write off a portion (the square footage of the office divided by the square footage of your house) of the original purchase price of your home. The issue you must be aware of is that if you depreciate a portion of your house and write it off on your business (using the home office deduction), you must recognize the amount of that depreciation as a gain when you sell your house.-

As always, the effectiveness of tax advice differs for each situation. Please contact your tax advisor before jumping in with both feet.

Yukon Cornelius

CFO of www.GoldStacks.com

Visualizing Goals

2008-06-06T21:05:00.001-07:00

"Dream lofty dreams, and as you dream, so shall you become. Your vision is the promise of what you shall at last unveil." – John Ruskin

When you set goals of what you want to accomplish one of the most important things to do is to visualize what your life will look like when your goals have been achieved. I have used this technique quite a bit through out the years and in times when I have lost my focus using visualization has given me incentive to keep moving forward.

Best Regards,
Goldenhound

Passion for your Profession

2008-06-06T03:56:00.001-07:00

I read an article written by William J. White titled "Do You Have Passion…For Your Profession." As I read the article I realized how appropriate the article is to Goldstacks. You know as we launch Goldstacks and begin our journey of becoming Hundred Thousandaires I had to reflect on my own career and how I got to where I am now.

Way, way back when I was in college I spent more time taking up space than I did studying. I had no clue what I wanted to do when I grew up; I just knew I wanted to be a millionaire. That's a great goal to have but it helps to have some kind of idea or plan to get there. Yep, you guessed it I didn't have any clue let alone a plan. As I struggled with what I wanted to do with my life I made a very bad decision. I decided on a career for all the wrong reasons….Money!! Now you may think what's wrong with that, well nothing if the career you pick is something that you are passionate about. In my case it is not a field that I am passionate about so there in lays the problem and why the article struck such a nerve with me.

I am sure that there are a few of you that are in the same boat as me and here is the whole point of this article. Find what you are passionate about and go for it. For the past 15 years I have been in a career that I am not passionate about. Only in the past five years have I found my passion and realized what I wanted. I realized that what I really wanted is to be a motivational speaker, writer and business owner. As of June 3rd, I am a business owner with the launch of Goldstacks. With this article being published on the blog I have become a writer, now all I need to do is give some speeches and I would have completed the triple play. Although I am not where I want to be yet I am on my way. I still have a job that I am not passionate about but each evening I take another step towards my real passion in life. That's all it takes is one step at a time. Believe me I know it's not easy to totally go in the opposite direction of where you are now. It's scary and I am sure that you have doubts about your ability to succeed. You are not alone, we all have the same fears and worries but together as a community on Goldstacks we can help each other take that first step towards a new beginning. That is why Goldstacks will become "The Gold Standard of Social Networking for Entrepreneurs!"

Best Regards,
Golden Hound
COO of GoldStacks.com.

Born Entrepreneurs vs. Made Entrepreneurs

2008-06-05T11:17:00.000-07:00

"But if you ask for a rise it's no surprise they're giving none away."

~ from Money, by Pink Floyd

I imagine that every entrepreneur (like you) has his or her own story. At some fundamental level, we're similar people; while our motivations may certainly differ, I think it's fair to describe our common "driven" nature -- that inner drive to achieve, produce, work, earn, create, etc. I don't know if I was a born entrepreneur, but then again, I don't know if being born that way is necessary for success (though it surely doesn't hurt). After all, people change over time. For example, I remember the time period during which it all kicked in for me...

I was living in Washington, D.C. (well, living in Virginia; working in D.C.), attending grad school at George Mason. Having attended college in a small Northeastern Pennsylvania city, I found the D.C. metropolitan area remarkably expensive. Within a year, I became frustrated with the "starving MFA student" existence and opted for something I perceived as an improvement: a steady income. (I think some of my fellow creative writers viewed this as selling out, though my creative output paradoxically increased dramatically after leaving that school.)

Washington was still pricey, though, as far as I was concerned. My first "real" job in 1991, doing editing and layout for a legal seminar company, paid a whopping $16,500 (frankly, not much of an improvement over my previous part-time gig at the local mall). Today, fresh college grads are pocketing $40k+ in their entry-level years (maybe more where you're based). I wonder if they find it pricey?

The funny thing to me, by the way, is that no one at college (at least where I went) ever said, "Jim, here's what you can expect to earn when you graduate." I'm not so sure I'd have stuck with my English degree had I known I had $16,500 awaiting me in the work force. Thankfully, the Washington Post had a fairly decent "editorial" jobs section (i.e., jobs for English and Journalism majors) in the help-wanted classifieds each Sunday. If I'd moved anywhere but D.C. or New York, I'm sure I'd have been almost completely unemployable.

The $16,500 had to go, tough. Immediately upon landing that ridiculous job, I set out to earn more. It took a while, too. I went on more job interviews than you'd possibly believe -- and have some excellent stories to share from those days. Finally, I landed a job doing similar editing and layout work for a major publisher. I think it paid $24,000 or so. While still not a fortune, it allowed me to relax a bit.

Most days, I rode the metro into town, taking the Orange Line in from Virginia, and then transferring in from Metro Center up to Dupont Circle. After work, I'd reverse this, although I'd often walk from Dupont Circle, boarding at Metro Center. Along the way, you get to see many, many entrepreneurs -- people selling flowers on the street, guys appearing out of nowhere during rainstorms to sell umbrellas, musicians all over the place, either alone or in groups, ranging in sophistication from kids banging improvised empty-bucket drum sets all the way up to well rehearsed, poncho-laden "world music" groups complete with primitive pan pipes rather ironically, in my opinion, amplified with digital delay effects.

It was pretty entertaining, really. One such entrepreneur so indelibly impressed me, I can recall his spiel word for word to this day. It was a little kid working the Dupont Circle metro station. The little hawkster couldn't have been more than 10 or 11. He'd stand there at rush hour peddling the Washington Times newspaper using a little rap (that he'd repeat loudly, almost mantra-like. Daily, it would echo up through the station's elevator shaft:

Washington Times,

twenty-five cents.

Buy it today

and read it on the subway.

I accept

pennies, nickles

quarters, and dimes.

Just twenty-five cents

for the Washington Times.

(That's probably the kind of person you're reading about today in the business rags. Little dude's probably a venture capitalist by now or something.)

Anyway, that's when I started making connections around town and found out that companies routinely paid good money to consultants who did exactly what I did all day long -- editing, laying out, and managing publications. Prior to owning my own PC, I took a few sideline consulting gigs that required staying late at the office. No one there seemed to mind if I was there after hours using company computers. So, I did a fair bit of that sort of thing -- a few hundred bucks here, another few hundred there. It was pretty nice.

Then a larger fish came along -- late 1994 or so. My wife's company was involved in a project for which they'd budgeted more than $30,000 to convert some computer files from one publishing program format to another. It was exactly the kind of thing I knew how to do. So, she got me in the door and I told them I'd do the job in half the time and for half the money. They accepted. I made $15,000 in the span of a couple weeks. I was hooked.

My point, I guess, is that some entrepreneurs are born (like that kid at the metro station), and some are made (like me). While it's an interesting conversation either way, I don't think it matters one way or the other what kind of entrepreneur you are. What's important (well, to people like us, anyway) is that you get there, that you stay motivated, and that you work toward your goal. Just out of curiosity, though, what kind of entrepreneur are you?

Best regards,

-Ragnar Danneskjöld
Founder and CEO
GoldStacks.com

Welcome to GoldStacks, Future HundredThousandaires!

2008-06-04T19:07:00.001-07:00

So, what is GoldStacks? Well, it's a web site launched on June 3, 2008, by three entrepreneurs from Pittsburgh, PA. For the past year or so, the three of us have spent quite a bit of time chatting about our various entrepreneurial dreams. At some point, we decided to stop dreaming and start doing. So, we agreed to noodle on some sort of entrepreneurial idea to pursue as a team. We came up with GoldStacks, a web-based repository of, among other things, 1,000 ways that anyone can make an extra $1,000.

The figure 1,000 is a goal at the moment. To launch the site, we typed up 50 or so ideas to seed the thing with. This helped us write the sorting programs. You can sort by title, author, rating, startup capital, barriers to entry, and more -- and of course the database is fully searchable. In addition, we have a general entrepreneurs' forum in which people can discuss other business issues that aren't specifically money-making ideas.

All of that is FREE! So, if you're interested in checking it out, by all means browse over to www.GoldStacks.com and join now!

Stay tuned for regular blog updates here at GoldStacks.blogspot.com. We plan to maintain an active blog -- stories, motivational quotes, financial tips, and more. Also, feel free to comment and/or contact us via email. We're especially interested in meeting entrepreneurs!

Best regards,

-Ragnar Danneskjöld
Founder and CEO
GoldStacks.com